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Carlos Puglia, Galenika Executive Director For Sales And Marketing

We Are Ready For Global Goals

As part of Grupo NC, one of the largest conglomerates in Brazil, Galenika is a company that operates on the global market. Its focus...

Aleksandar Cicmil, Promont Group and Dejan Pejčinović, Movenpick Fruške Terme

In The Company Of The Best – Serbian Hospitality With International Standards!

Hotel Fruške Terme has become the first hotel of Mövenpick Hotels & Resorts in Serbia and part of the AccorHotels group, which represents a...

Vladimir Spasić, Account Executive, Dell Technologies

We’re Becoming A Digital Society

With its digital solutions, products and services, Dell Technologies advances the operations and business processes of the companies with which it cooperates, while the...

Tijana Elez, MPC Properties Finance Director

Constructing And Managing A Brighter Future

Investment is an essential element of doing business successfully, and MPC Properties continues to make intelligent investments across its entire portfolio, in both business...

Tivat Tourism Organization

Luxury & Green

The Montenegrin coastal town of Tivat was declared one of the ten most colourful conference locations in 2021, in category M - up to...

Bojan Stanić, Sector For Strategic Analysis and Internationalisation At The Chamber Of Commerce & Industry Of Serbia (CCIS)

War Is Always A Bad Friend

The continuation of the conflict in Ukraine could, over the long run, imperil the recovery of the western Balkans. That’s why political de-escalation in Europe provides the basis to restore rates of expansive growth and sustainable development to the serbian economy

Despite the fact that the current crisis is a consequence of tragic events in Ukraine, new economic circumstances that bring both risks and opportunities are being created in Europe.

Specifically, the current situation threatens to develop into a global conflict of interest, primarily in an economic sense. The International Monetary Fund noted in its latest report that we are seeing a kind of economic deglobalisation, or the leading economies turning towards cooperation within regional economic groups, which creates a kind of trade-off between more reliable supplies and economic efficiency.

We already saw overburdening and stagnation emerging during the pandemic, leading to supply chain breakdown, and the current political crisis shows that such breakdowns don’t necessarily have to be caused by natural factors. Hence the re-emergence of the topic of shortening the supply chains of large European companies by moving operations closer to their home countries, while, on the other hand, many countries are now considering reducing their economic dependence on faraway and potentially rival markets.

Serbia and the other countries of the Western Balkan region have for years underutilised their economic potential and shown themselves to be extremely sensitive to external risks. Although recent advances have been recorded in terms of regional cooperation towards the establishing of a common regional market, joining the EU’s common market – and doing so in the most favourable and inclusive possible way – remains the main economic goal of the governments of the region.

The political crisis that’s hit eastern Europe has launched a wave of refugees and migrants who are seeking more promising places to live and work in many european countries including Serbia, which would be a positive development for our labour market

In that sense, there are indications of increased interest among foreign direct investors in transferring part of their operations from faraway markets to the region. The standout activities of interest in this regard include agribusiness, the auto industry and the IT sector, all of which can provide a stronger impetus to the growth and development of Serbia and the region.

On the other hand, the political crisis that’s hit Eastern Europe has launched a wave of refugees and migrants who are seeking more promising places to live and work in many European countries, and are often opting for Serbia as a country with a similar culture, a good climate and more affordable living conditions. These are relatively young, highly-educated people who are mostly employed in the fields of IT, consulting services and trade. Considering their ability to quickly integrate into the local environment, the Serbian economy could benefit a lot in terms of bolstering labour market supply, but also improving its general demographic structure, given that European countries are generally maintaining their population levels through a positive migrant balance.

However, we should conclude by stressing that the continuation of conflict in Ukraine may, over the long run, imperil the recovery of the Western Balkans, and particularly other developing countries worldwide. That’s why political de-escalation in Europe provides the basis to restore the Serbian economy’s rates of expansive growth and sustainable development.

Comment By Zoran Panović

Year Of Turmoil

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Branimir Jovanović, Economist At The Vienna Institute For International Economic Studies

The EU And The Western Balkans Still Need Each Other

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Dr Duško Lopandić Ph.D., Vice President Of The European Movement In Serbia

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Vukan Marković, University Of Belgrade, Institute For Philosophy And Social Theory; Cambridge University Ph.D. Student

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Serbia Is Spain’s Main Foreign Trade Partner In The Western Balkans

Serbia is the main foreign trade partner of Spain in the Western Balkans and is responsible for more than...

Đukanović And Milatović In The Second Round Of Presidential Elections In Montenegro

According to preliminary data from the Montenegrin Monitoring Center (CeMI), based on 95.5 per cent of the processed sample,...

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In 2022, Norway earned five times more from the sale of oil and gas compared to previous years, thanks...

Dragan Džajić The New President Of The Football Association Of Serbia

Dragan Džajić, one of the best football players from this area of ​​all time, was elected unanimously, with 78...

55th International Car Show Opened

The International Car Show, 55th in a row, opened in Belgrade and has gathered 250 exhibitors who will present...

Serbia Is Spain’s Main Foreign Trade Partner In The Western Balkans

Serbia is the main foreign trade partner of Spain in the Western Balkans and is responsible for more than...

Đukanović And Milatović In The Second Round Of Presidential Elections In Montenegro

According to preliminary data from the Montenegrin Monitoring Center (CeMI), based on 95.5 per cent of the processed sample,...

In 2022 Norway Earned Five Times More From The Sale Of Oil And Gas

In 2022, Norway earned five times more from the sale of oil and gas compared to previous years, thanks...

Dragan Džajić The New President Of The Football Association Of Serbia

Dragan Džajić, one of the best football players from this area of ​​all time, was elected unanimously, with 78...
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